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EXCHANGE RATES, AGGREGATE EXPENDITURES DETERMINANT: One of several specific aggregate expenditures determinants assumed constant when the aggregate expenditures line is constructed, and that shifts the aggregate expenditures line when it changes. An increase in the exchanges rates causes an increase (upward shift) of the aggregate expenditures line. A decrease in the exchanges rates causes a decrease (downward shift) of the aggregate expenditures line. Other notable aggregate expenditures determinants include consumer confidence, federal deficit, inflationary expectations, and interest rates.
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ARC ELASTICITY The average elasticity for discrete changes in two variables. The distinguishing characteristic of arc elasticity is that percentage changes are calculated based on the average of initial and ending values of each variable, rather than initial values. Arc elasticity is generally calculated using the midpoint elasticity formula. The contrast to arc elasticity is point elasticity. For infinitesimally small changes in two variables, arc elasticity is the same as point elasticity.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle." -- Albert Einstein
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WAPM
Weak Axiom of Profit Maximization
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